josie gibblebucket Posted March 13, 2009 Share Posted March 13, 2009 Yesterday we received our Council Tax bill, needless to say it had gone up. Today I received my annual endowment statement, needless to say it had gone down. :-( I don't really understand how they can take money back off me, because thats effectively what they're doing isn't it? My plan is worth just about £1000 less than this time last year. Link to comment Share on other sites More sharing options...
LordThornber Posted March 13, 2009 Share Posted March 13, 2009 Nicola, yes it is, Andrea, (my wife in case you don't know), received her pension statement the other day. Her contributions along with her employers plus tax relief,were not inconsiderable I can tell you, let's just say they'd buy you a new small car. Her pot had gone down by £700!!!!! So that's the car plus 10 tank fulls of petrol if you want to take that viewpoint, I was livid. Martyn Link to comment Share on other sites More sharing options...
nightrider Posted March 13, 2009 Share Posted March 13, 2009 Money certainly is a pain when you get a statement from Npower our utility company saying that we are £800 in debt? especially when they have been taking money out by direct debit, so how can we be in debt? Link to comment Share on other sites More sharing options...
Guest Tracker Posted March 13, 2009 Share Posted March 13, 2009 Money is never a pain for us! Lack of it can be - and managing it certainly is as every buggar in the land, and some from abroad too, is out to screw you these day - and you nede eyes in the back of yer 'ead to spot 'em sometimes! Link to comment Share on other sites More sharing options...
malc d Posted March 13, 2009 Share Posted March 13, 2009 knight of the road - 2009-03-13 8:23 PM Money certainly is a pain when you get a statement from Npower our utility company saying that we are £800 in debt? especially when they have been taking money out by direct debit, so how can we be in debt? If you are paying a fixed amount by direct debit each month, and you use more 'power' than you have paid for, you will be in debt. If you have agreed with them that they can take, by direct debit, the actual cost of the power that you have used, then you can't be in debt. Just depends what your arrangement is with Npower. Link to comment Share on other sites More sharing options...
nightrider Posted March 14, 2009 Share Posted March 14, 2009 malc d - 2009-03-13 9:16 PM knight of the road - 2009-03-13 8:23 PM Money certainly is a pain when you get a statement from Npower our utility company saying that we are £800 in debt? especially when they have been taking money out by direct debit, so how can we be in debt? If you are paying a fixed amount by direct debit each month, and you use more 'power' than you have paid for, you will be in debt. If you have agreed with them that they can take, by direct debit, the actual cost of the power that you have used, then you can't be in debt. Just depends what your arrangement is with Npower. Our Npower direct debit was upped sometime ago, our power usage remains static if not slightly lower, they dont appear to send a monthly statement so that you know exactly where you are, it is not an option to give them carte-blanche to dip into your bank account is it? Link to comment Share on other sites More sharing options...
CliveH Posted March 14, 2009 Share Posted March 14, 2009 May I suggest those whose investments have gone down should take advice on what funds they use? One of the things that staggers me is that a lot of people choose a fund (or they allow someone to choose it for them) when they set up the policy and then never change it! What was suitable a decade or so ago is hardly likely to be suitable now. As for what funds - if you have some Gilt & Fixed Interest exposure you will probably be rather pleased - see what M&G's fund in this sector achieved over the last twelve months:- http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=MGGTI&univ=U The sector achieved 13.3% growth (see the factsheet) and this particular fund (which has been a long term favourite of ours) achieved 14.5% over the past 12 months. So not all is doom and gloom. This is because Gilt & Fixed Interest always do well when interest rates are falling which they are now with a vengeance. So we were moving clients into this sector steadily over the last 6 months or so. As for the other funds that have fallen - if you are saving monthly regular amounts all is not lost! - take heart from the fact that you are buying a lot more units in the fund than you were last year. This is called "£ cost averaging" and will be to your benefit. If you regularly save £100 a month into a fund that "can go down as well as up" as the statutory warning states then if in January the unit price is £1 then you buy 100 units. In February if the unit price drops to 50 pence then your £100 from Jan becomes £50 but with another £100 going in - you buy 200 units because they are now just 50 pence each. If in March the unit price goes back to £1, then the £100 you save that month buys 100 units. Thus at the end of March you would have 400 units (100 in Jan, 200 in Feb and 100 in March) which if you took a snap shot valuation in March would be worth £400. But your outlay was only £300. So for regular savers, volatile markets just mean that you buy more units some months than others and so the fact that values go down as well as up is a benefit in the longer term. In contrast, those who invest a Lump Sum, need to be VERY careful about what they invest in because in the scenario above where the unit price goes £1 in Jan, 50p in Feb and back to £1 in March, had you invested £10,000 in such a fund then obviously over that three month period, the value would go £10k in Jan, £5K in Feb and £10K in March. Sadly the recession we are in will not be over in 3 months - more like 3 years, but we could well be looking at 2009 as the equivalent of "February" in the above example. So units bought now, whilst they are low cost, could well be a very good buy indeed. Link to comment Share on other sites More sharing options...
malc d Posted March 14, 2009 Share Posted March 14, 2009 knight of the road - 2009-03-14 2:37 AM malc d - 2009-03-13 9:16 PM knight of the road - 2009-03-13 8:23 PM Money certainly is a pain when you get a statement from Npower our utility company saying that we are £800 in debt? especially when they have been taking money out by direct debit, so how can we be in debt? If you are paying a fixed amount by direct debit each month, and you use more 'power' than you have paid for, you will be in debt. If you have agreed with them that they can take, by direct debit, the actual cost of the power that you have used, then you can't be in debt. Just depends what your arrangement is with Npower. Our Npower direct debit was upped sometime ago, our power usage remains static if not slightly lower, they dont appear to send a monthly statement so that you know exactly where you are, it is not an option to give them carte-blanche to dip into your bank account is it? Your power usage may have remained roughly the same but the price of fuel increased significantly last year. Even if there was a facility to give a power company ( or anyone else) carte-blanche to dip into your bank account I personally certainly wouldn't use it. If you think your 'debt' figure is excessive you should give them a call and get a breakdown of the charges - they may well have screwed up somewhere. Link to comment Share on other sites More sharing options...
Mike Chapman Posted March 14, 2009 Share Posted March 14, 2009 malc d - 2009-03-14 9:46 AM If you think your 'debt' figure is excessive you should give them a call and get a breakdown of the charges - they may well have screwed up somewhere. Another explanation is that Npower may be using estimated meter readings rather than actual. I found that Npower regularly overestimated our usage and we had to keep asking them to adjust the figures. They will send a quartely account if you request it. We gave up with Npower and moved to Scottish Hydro. Regards, Mike. Link to comment Share on other sites More sharing options...
josie gibblebucket Posted March 14, 2009 Author Share Posted March 14, 2009 CliveH - 2009-03-14 5:10 AM May I suggest those whose investments have gone down should take advice on what funds they use? One of the things that staggers me is that a lot of people choose a fund (or they allow someone to choose it for them) when they set up the policy and then never change it! Its probably too late for me now CliveH. I took out this policy in 1985. Its had to survive 3 recessions, Standard Life under the leadership of Ian Lumsden and to cap it all, its in with profits. It looks as though it will only have made 2/3 of its target amount, but with just over a year to run I'm not expecting any miracles now. (mores the pity) Link to comment Share on other sites More sharing options...
josie gibblebucket Posted March 14, 2009 Author Share Posted March 14, 2009 Sorry post went on twice........ :$ :$ Link to comment Share on other sites More sharing options...
susan pooley Posted March 14, 2009 Share Posted March 14, 2009 well try british gas they r useless as 4 money dont have any hard up broke proud ower of a small tatty gelert tent with has been every where with us Link to comment Share on other sites More sharing options...
nightrider Posted March 15, 2009 Share Posted March 15, 2009 susan pooley - 2009-03-14 9:59 PM well try british gas they r useless as 4 money dont have any hard up broke proud ower of a small tatty gelert tent with has been every where with us Susan, Dont worry about having no money, money is the root of all evil, after all, Fred the Shred with all his money couldn't get in St Andrews golf club could he? Link to comment Share on other sites More sharing options...
malc d Posted March 15, 2009 Share Posted March 15, 2009 Money doesn' bring happiness. But you can be miserable in comfort. :-| Link to comment Share on other sites More sharing options...
nightrider Posted March 15, 2009 Share Posted March 15, 2009 I dont want or need any more money that I can't fit into my stash box under the floor boards. Link to comment Share on other sites More sharing options...
susan pooley Posted March 15, 2009 Share Posted March 15, 2009 money under the floor boards can y find when y want it? i put money in a money box saying i will take it to the bank but i forget where i put it think its a sign of old age (lol) Link to comment Share on other sites More sharing options...
davenewellhome Posted March 15, 2009 Share Posted March 15, 2009 In answer to the thread title question, only when I've not got enough of it! D. Link to comment Share on other sites More sharing options...
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